World Stocks Cautiously Higher Ahead of High Stakes Fed Decision
LONDON—World stocks were cautiously higher on Wednesday as hopes that a banking crisis would be averted were tempered by uncertainty before a Federal Reserve meeting that sees the central bank caught between taming inflation and maintaining stability.
Data showing British inflation unexpectedly rose to 10.4 percent in February boosted expectations for a quarter point rate hike at Thursday’s Bank of England meeting, lifting sterling.
While London’s FTSE stock index dipped, European stock markets more broadly edged higher while Asia-Pacific shares outside Japan added 1.3 percent.
Japan’s Nikkei climbed 2.0 percent led by a rebound in beaten-down bank stocks.
Efforts by regulators and policymakers globally to stem banking sector turmoil have helped steam a rout in equity markets but the mood remain fragile. S&P 500 futures and Nasdaq futures edged down….